CG73813 | Non-Resident Capital Gains Tax (NRCGT) – Disposals on or after 6 April 2015 to 5 April 2019: Companies: Special rules: Company's profits for corporation tax purposes to include chargeable gains

The 2015 legislation amends the provisions in TCGA92/S8* on taxing gains, and relieving losses, of companies chargeable to corporation tax. The principle that losses may generally be set against CT on a company’s profits is extended, so that unused allowable non-resident CGT losses accruing to the company may be similarly applied.

There are links here to the changes to TCGA92/S2* (see CG73763), which provide for non-resident CGT losses to be computed in the same way as for non-resident CGT gains, and to be available to use against chargeable gains. The amendments to TCGA92/S8* ensure that the treatment of companies is on all fours with that of individuals.

*These sections were re-written for disposals from 6 April 2019 see CG10150